15.7% Rise in Coastal Property Prices

September proved to be a valuable month for Spanish property prices; Spain’s recovery plan continues to be on the right tracks with the average property price increase of 4.8%.

According to the valuation company Tinsa, property prices gained in all sectors with 7.3% in larger cities and capitals and a fantastic 4.7% on the coastal areas.
Albeit the price of property is still considerably lower than the boom time at 35.7% lower, the prices have increased by 12.1% since the global crash. This is great news for people looking to invest in property in Spain or searching for your retirement home or holiday home in Spain. In just over 3 years the property prices in coastal regions have increased by 15.7% giving great news for the investor.

This year 2018 has yet again seen record numbers of tourists flock to the Costa del Sol aiding the property recovery and showing investors and overseas buyers which locations to take advantage of on the coast. Marbella and surrounding areas has been a mecca for investors due to the hugely popular rental market. These areas can only continue to benefit in all aspects from tourism to the increase in property prices and rental prices.

Other news from the valuation firm that shows the extent and the solidity of the property recovery and economy in general in Spain is that property sales has risen by 18”% year in year. New off plan building licenses that have proves to difficult to get or even pass in previous years have grown by 46.2% year on year, this is a remarkable figure and again adds to the strong investment market for buyers of off plan properties in the coastal areas surrounding Marbella. Final figures from Tinsa also show that mortgage application that have been successful have also risen by 17% year on year showing that banks in Spain are becoming stronger and more satisfied to lend property buyers money again.

Unemployment in Spain has also decreased again year on year by almost 6.1%.

After reviewing the data provided by Tinsa, we have established that the recovery of the Spanish property market shows no sign at all of slowing down. We can confirm that we have a strong enough demand for properties in the off plan new build sector due to second hand older properties drying up, with property prices still on the rise but at more of a sensible rate than pre boom we can still see confidence from buyers and investors.

British and Irish Expats living in Spain on the rise

British and Irish Expats living in Spain on the rise

The number of British and Irish expats living in Spain has exceeded the amount of Spanish Expats living in the UK and Ireland.

Spain has always been very popular for the British and Irish holidaymaker to take a well earned vacation and the idea of living in on the Spanish coast always seemed like a dream for most. However that dream has become reality for hundreds of thousands of dreamers that have lived in Spain for at least a year last year.

Close to 300,000 citizens made their way out of the cold and wet and arrived on the Spanish shores in 2016 according to the Office for National Statistics.

When looking at the total number of retired expats arriving in Spain, the UK and Ireland made up an incredible 48%. This sends shock waves throughout the rest of Europe showing that the Spanish market is most definitely on the increase and showing that Spain has a healthy lifestyle that is very much sought after. The number of over 65’s has doubled over the last 10 years as reported by the Olive Press.

Of all the expats living in Spain it is reported that only 22% have full time employment with most working in the hotel and catering business. 11% were showing as unemployed and the rest are either house parents, retired or living from a pot of gold.

Spanish expats moving to the UK or Ireland was mainly made up of younger Spaniards, out of the 116,000 expats relocating to the UK and Ireland almost half of them were aged between 20-39 with 59% in employment. The statistics show that the main employment sector being admin, health, banking and finance.

Spain is still a huge destination for British and Irish to visit for less than 28 days with the vast majority staying for a vacation, the total number is close to 13 million visitors. This is in contrast to almost 850,000 Spanish visiting the UK for vacation last year.

Imagine sitting in the UK or Ireland with the cold, wet and miserable grey weather pondering what could possibly make you happy at that moment. Then start to think about the hot weather, amazing beaches, glorious sunsets and a very laid back way of healthy living, you can now imagine why Spain has so many new residents arriving daily.

Why shouldn’t you have the best lifestyle? Most people genuinely believe that they cannot afford to make the move to Spain but they could not be further from the truth. Moving to Spain and buying or renting a Spanish property is or should be very simple when using a reputable real estate agent.

Spain historically has cheaper house prices compared to many parts of the UK and Ireland and pensions can go a lot further due to lower cost of living expenses. When asked what was a main reason to move to Spain, many expats mentioned that the outdoor lifestyle that you can have in Spain is a huge reason to relocate due the positively on health.

Are you still dreaming of moving to Spain? Make that call, send that email or even better get on the plane and meet Absolute Marbella. We can show you how you can afford to move and what you can get for your money. We will introduce you to the right professionally qualified mortgage advisors, lawyers and show you a array of properties that would meet your requirements – all with no obligation at all.

Let Absolute Marbella Real Estate help make that move: www.absolutemarbella.com